1 week ago • •
Electric power companies after a wildfire or hurricane: Extractive Corporate Power
Financial reserves were not set aside for climate change emergencies. Profits used for management compensation, dividends, & stock buybacks.
theguardian.com/us-news/2023/j…
No "rainy day" fund.
washingtonpost.com/business/20…
Utility companies need to gear up for climate change. Make the grid resilient.
Burying cables? Microgrids & decentralization? Setting aside mandatory financial reserves like insurance & banks?
One after another, utilities confront massive liabilities for wildfires. With the Maui fire, Hawaiian Electric faces potential insolvency, accused of being slow to respond to threats of extreme weather.
Nicole Parsons
in reply to AI6YR Ben • • •Electric power companies after a wildfire or hurricane: Extractive Corporate Power
Financial reserves were not set aside for climate change emergencies. Profits used for management compensation, dividends, & stock buybacks.
theguardian.com/us-news/2023/j…
No "rainy day" fund.
washingtonpost.com/business/20…
Utility companies need to gear up for climate change. Make the grid resilient.
Burying cables? Microgrids & decentralization? Setting aside mandatory financial reserves like insurance & banks?
Hawaii utility faces collapse as others delay on extreme weather risks
Evan Halper (The Washington Post)